Altcoins are losing their support due to the Bitcoin plummet: Here is the analysis of XRP, ADA, DOGE! - Coin Bulletin

Due to macroeconomic uncertainties and the impact of the global tariff war, major tokens such as XRP, ADA, and DOGE have fallen below critical support levels, while Bitcoin has decreased to $74,500.

Macroeconomic uncertainties, combined with the effects of a global tariff war, have caused significant fluctuations in the markets. Bitcoin fell to $74,500 and important tokens like XRP, Cardano (ADA), and Dogecoin (DOGE) also lost more than 14% of their value.

The cryptocurrency markets have faced a significant wave of volatility with major tokens like XRP, Cardano (ADA), and Dogecoin (DOGE) falling below their technical support levels. The markets are shaken by the impact of the global tariff war, which Bill Ackman referred to as an "economic nuclear war." This situation affects both the cryptocurrency markets and stock markets worldwide. Bitcoin has dropped below $74,500, while major tokens have also lost value by 14 percent.

XRP price analysis

XRP, the token backed by the XRP Ledger, has lost 14% of its value in the last 24 hours to $1.90. CoinDesk analyst Shaurya Malwa XRP broke the $2.00 level, which previously formed a strong psychological and technical support, forming a head and shoulders pattern that signaled a potential further bearishness. Technical indicators also reinforce this negative outlook. The 21-day exponential moving average (EMA) is forming resistance at $2.20, and XRP has not been able to surpass this level in recent weeks. Moreover, the relative strength index is approaching (RSI) 30 levels, indicating that selling pressure is greater than buying pressure.

ADA price analysis

Cardano's ADA token has lost 12% in value over the last 24 hours, dropping to $0.55, and has fallen below the 50-day simple moving average (SMA) level. This indicates that the level, which has provided strong support since mid-March, has been broken. ADA is giving ongoing negative control signals in line with a broader descending triangle formation. The RSI is at 38 and close to the oversold area, and the moving average convergence divergence (MACD) shows a negative crossover. ADA's next support is around $0.35, but if this level is broken, a drop to $0.40 can be expected.

DOGE price analysis

The favorite of meme coin enthusiasts, Dogecoin (DOGE), has lost 15% of its value in the last 24 hours, falling to $0.16. The 18 cent level was the bottom of a consolidation range since March, and this support has been broken. On the 4-hour charts, a death cross formation has occurred as the 50-period SMA has dropped below the 200-period SMA, signaling a bearish trend. The RSI for DOGE has fallen to 28, entering the oversold territory, but the 20-day EMA level continues to pose strong resistance at $0.21. If the bears maintain control, DOGE could drop to $0.14, which overlaps with December 2024 levels.